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Kay Murray, who has been imprisoned on a trumped-up forgery charge, and Steve Morris, a beguiling confidence man, are released from San Quentin Prison on the same day. While crossing on the island ferry, Steve strikes up a conversation with Kay, another just-released convict, and, out of sympathy, gives her money for a hotel room. After leaving Kay at the dock, Steve telephones his friends, "K. C." and Mabel Kelly, for a progress report on his latest confidence game. On Steve's orders, the Kellys have rented an estate neighboring that of millionaire Paul Southern and have ingratiated themselves with the wealthy recluse. Steve's scheme is to bring his girl friend Rose to the estate and introduce her to Southern as his sister. However, when Steve discovers that Rose is in Cuba, he contacts Kay and, after transforming her from a "mud hen" into a lavishly attired beauty, convinces her to play Rose's part. As hoped, Southern is taken by Kay and soon approaches Steve about marriage, unaware that Kay plans to divorce him after six months and split the sizeable settlement four ways. Although he, too, has fallen in love with Kay, Steve "grants" Southern his permission, and Kay accepts Southern's proposal in spite of her own unspoken love for Steve. After announcing his engagement, Southern gives Kay a ring from his valuable emerald collection, which he has brought out to show at a charity bazaar. That night, Steve tells Kay he loves her and asks her to marry him, but she refuses to marry a man who would be willing to sell her, and insists on carrying out the plan. Overcome with jealousy, Steve announces the end of the scheme, but before the quartet departs, K. C. steals Southern's emeralds. When Steve hears of K. C.'s theft, he retrieves the jewels and returns them to a startled Southern. While Steve confesses everything to Southern, K. C. tries to sneak out with a few emeralds, but is apprehended by Detective Sweeney, who has been hired by Southern to protect the collection. Moved by Steve's love for Kay, Southern refuses to press charges, but Sweeney insists on sending the quartet back to prison for parole violations. Buoyed by their love, Kay and Steve face prison unafraid.